Amazon's early holiday cheer - BusinessWeek
Booming sales of e-book readers and material to read on them brought early holiday cheer to online retailer Amazon.com (AMZN) in the third quarter. And judging from the company's better-than-expected forecast for the current quarter, robust sales will continue through yearend at Seattle-based Amazon.
On Oct. 22, Amazon said third-quarter net income surged 68%, to $199 million, while revenue jumped 28%, to $5.45 billion, compared with Wall Street's estimate of $5 billion. "This looks like holiday-season performance and they're doing it in the third quarter," says Jeff Lindsay, analyst with Sanford C. Bernstein. For the quarter that ends in December, Amazon forecast sales of $8.1 billion to $9.1 billion, compared with $8.19 billion expected by analysts surveyed by Bloomberg News...
On Oct. 22, Amazon said third-quarter net income surged 68%, to $199 million, while revenue jumped 28%, to $5.45 billion, compared with Wall Street's estimate of $5 billion. "This looks like holiday-season performance and they're doing it in the third quarter," says Jeff Lindsay, analyst with Sanford C. Bernstein. For the quarter that ends in December, Amazon forecast sales of $8.1 billion to $9.1 billion, compared with $8.19 billion expected by analysts surveyed by Bloomberg News...
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